SELF ASSESSMENT COMPLIANCE STATEMENT YEAR
ENDING MARCH 2007
SACS Template B: Decent Homes
Use this document to store Decent Homes information in its entirety. It is not necessary to
summarise or analyse the information provided by associations.
Group /
Sovereign Housing Group Limited
Association
Sovereign HA maintains an independently verified database on its stock condition and
investment needs and property information is continually updated on a rolling 5-year cycle
to ensure its accuracy. The Association is currently on target to achieve a standard above
Decent Homes before the 2010 deadline. The Association approved a new Asset
Management strategy in 2007 incorporating both regeneration and neighbourhood
investment intentions.
Twynham HA commissioned a stock condition survey in 2005 and the financial
implications of the associated recommendations have been incorporated in the business
plan assumptions. The Association has requested a waiver on Decent Homes compliance
for its Somerford Estate in Christchurch, to enable a more comprehensive redevelopment
approach to take place. We understand that this extension has been approved by the
Housing Corporation, although this has not yet been confirmed in writing. New
development viability criteria are reviewed on an annual basis and factored into the
business plan assumptions for each Association. There is explicit reference to the
development and sales targets which are approved annually by the Board.
Vale HA carried out a Stock Condition Survey in 2004 -the 30 year spending programme
forecast falls within the existing business plan timeframe and can be comfortably
met within the existing funding arrangements. VHA’s Decent Homes Strategy forms part
of the Asset Management Strategy.
Twynham HA is currently formulating its intentions regarding the long term regeneration of
the Somerford estate. Some early financial modelling has been conducted and a phased
approach will be adopted. Specifically, some redundant stock has been identified for
disposal to support the funding requirements of Somerford and, consequently, the current
assumption is that the programme will be self-financing within the context of the Business
Plan. Financial management plans and models have been designed to support the asset
management strategies in both SHA and THA and to ensure that the complex financial
decision making associated with these types of schemes is clearly expressed and carefully
managed. Adoption of these models will be presented to the Boards of both SHA and
THA in 2007.
SACS 2007 | Template B internal check and analysis
1